| Quarter | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,134 | 1,165 | 1,343 | 1,477 | 1,294 | 1,269 | 1,538 | 1,466 | 1,341 | 1,404 | 1,755 | 1,811 | |
Growth YoY Revenue Growth YoY% | 14.9 | 18.6 | 17.9 | 21.6 | 14.1 | 8.9 | 14.6 | -0.8 | 3.6 | 10.6 | 14.1 | 23.5 |
| 1,041 | 1,064 | 1,215 | 1,321 | 1,184 | 1,165 | 1,395 | 1,342 | 1,232 | 1,280 | 1,585 | 1,620 | |
| 92 | 102 | 128 | 156 | 110 | 104 | 143 | 124 | 109 | 123 | 171 | 191 | |
OPM OPM% | 8.2 | 8.7 | 9.5 | 10.6 | 8.5 | 8.2 | 9.3 | 8.4 | 8.2 | 8.8 | 9.7 | 10.6 |
| 14 | 3 | 5 | 7 | 4 | 5 | 5 | 5 | 5 | -16 | 8 | 12 | |
Interest Expense Interest ExpenseCr | 9 | 9 | 10 | 9 | 8 | 6 | 3 | 4 | 2 | 3 | 3 | 3 |
Depreciation DepreciationCr | 20 | 19 | 22 | 22 | 22 | 25 | 27 | 26 | 27 | 27 | 28 | 28 |
PBT PBTCr | 78 | 76 | 101 | 132 | 85 | 79 | 118 | 98 | 85 | 77 | 147 | 172 |
| 19 | 18 | 24 | 33 | 21 | 19 | 27 | 24 | 20 | 20 | 35 | 42 | |
| 59 | 58 | 76 | 99 | 63 | 60 | 91 | 74 | 65 | 57 | 112 | 130 | |
Growth YoY PAT Growth YoY% | 35.0 | 48.3 | 44.5 | 54.1 | 7.5 | 3.4 | 19.6 | -25.4 | 3.0 | -5.3 | 23.1 | 76.4 |
NPM NPM% | 5.2 | 5.0 | 5.7 | 6.7 | 4.9 | 4.8 | 5.9 | 5.0 | 4.9 | 4.1 | 6.4 | 7.2 |
| 1.4 | 1.3 | 1.7 | 2.3 | 1.4 | 1.4 | 2.1 | 1.7 | 1.5 | 1.3 | 2.6 | 3.0 |
| Quarter | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,134 | 1,165 | 1,343 | 1,477 | 1,294 | 1,269 | 1,538 | 1,466 | 1,341 | 1,404 | 1,755 | 1,811 | |
Growth YoY Revenue Growth YoY% | 14.9 | 18.6 | 17.9 | 21.6 | 14.1 | 8.9 | 14.6 | -0.8 | 3.6 | 10.6 | 14.1 | 23.5 |
| 1,041 | 1,064 | 1,215 | 1,321 | 1,184 | 1,165 | 1,395 | 1,342 | 1,232 | 1,280 | 1,585 | 1,620 | |
| 92 | 102 | 128 | 156 | 110 | 104 | 143 | 124 | 109 | 123 | 171 | 191 | |
OPM OPM% | 8.2 | 8.7 | 9.5 | 10.6 | 8.5 | 8.2 | 9.3 | 8.4 | 8.2 | 8.8 | 9.7 | 10.6 |
| 14 | 3 | 5 | 7 | 4 | 5 | 5 | 5 | 5 | -16 | 8 | 12 | |
Interest Expense Interest ExpenseCr | 9 | 9 | 10 | 9 | 8 | 6 | 3 | 4 | 2 | 3 | 3 | 3 |
Depreciation DepreciationCr | 20 | 19 | 22 | 22 | 22 | 25 | 27 | 26 | 27 | 27 | 28 | 28 |
PBT PBTCr | 78 | 76 | 101 | 132 | 85 | 79 | 118 | 98 | 85 | 77 | 147 | 172 |
| 19 | 18 | 24 | 33 | 21 | 19 | 27 | 24 | 20 | 20 | 35 | 42 | |
| 59 | 58 | 76 | 99 | 63 | 60 | 91 | 74 | 65 | 57 | 112 | 130 | |
Growth YoY PAT Growth YoY% | 35.0 | 48.3 | 44.5 | 54.1 | 7.5 | 3.4 | 19.6 | -25.4 | 3.0 | -5.3 | 23.1 | 76.4 |
NPM NPM% | 5.2 | 5.0 | 5.7 | 6.7 | 4.9 | 4.8 | 5.9 | 5.0 | 4.9 | 4.1 | 6.4 | 7.2 |
| 1.4 | 1.3 | 1.7 | 2.3 | 1.4 | 1.4 | 2.1 | 1.7 | 1.5 | 1.3 | 2.6 | 3.0 |
| Financial Year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue RevenueCr | 2,086 | 2,326 | 2,594 | 2,503 | 2,721 | 3,500 | 4,127 | 4,857 | 5,578 | 5,966 | 6,310 |
Growth Revenue Growth% | 11.5 | 11.5 | -3.5 | 8.7 | 28.6 | 17.9 | 17.7 | 14.8 | 7.0 | 13.4 | |
| 1,877 | 2,135 | 2,370 | 2,245 | 2,409 | 3,160 | 3,807 | 4,430 | 5,065 | 5,439 | 5,716 | |
| 209 | 190 | 224 | 258 | 312 | 340 | 320 | 427 | 513 | 527 | 594 | |
OPM OPM% | 10.0 | 8.2 | 8.7 | 10.3 | 11.5 | 9.7 | 7.8 | 8.8 | 9.2 | 8.8 | 9.4 |
| 13 | 11 | 20 | 25 | 21 | 11 | 16 | 34 | 21 | 1 | 8 | |
Interest Expense Interest ExpenseCr | 2 | 2 | 2 | 4 | 6 | 8 | 16 | 40 | 25 | 12 | 11 |
Depreciation DepreciationCr | 16 | 20 | 23 | 29 | 39 | 49 | 64 | 81 | 96 | 108 | 109 |
PBT PBTCr | 204 | 180 | 220 | 250 | 288 | 294 | 256 | 340 | 414 | 408 | 482 |
| 59 | 45 | 52 | 61 | 86 | 66 | 67 | 83 | 100 | 100 | 117 | |
PAT PATCr | 145 | 135 | 168 | 188 | 202 | 228 | 189 | 258 | 314 | 308 | 365 |
Growth PAT Growth% | -6.6 | 24.4 | 12.0 | 7.2 | 13.2 | -17.2 | 36.3 | 21.8 | -1.7 | 26.4 | |
NPM NPM% | 6.9 | 5.8 | 6.5 | 7.5 | 7.4 | 6.5 | 4.6 | 5.3 | 5.6 | 5.2 | 5.8 |
| 3.4 | 3.2 | 3.9 | 4.4 | 4.7 | 5.3 | 4.4 | 5.9 | 7.2 | 7.0 | 8.3 |
| Financial Year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue RevenueCr | 2,086 | 2,326 | 2,594 | 2,503 | 2,721 | 3,500 | 4,127 | 4,857 | 5,578 | 5,966 | 6,310 |
Growth Revenue Growth% | 11.5 | 11.5 | -3.5 | 8.7 | 28.6 | 17.9 | 17.7 | 14.8 | 7.0 | 13.4 | |
| 1,877 | 2,135 | 2,370 | 2,245 | 2,409 | 3,160 | 3,807 | 4,430 | 5,065 | 5,439 | 5,716 | |
| 209 | 190 | 224 | 258 | 312 | 340 | 320 | 427 | 513 | 527 | 594 | |
OPM OPM% | 10.0 | 8.2 | 8.7 | 10.3 | 11.5 | 9.7 | 7.8 | 8.8 | 9.2 | 8.8 | 9.4 |
| 13 | 11 | 20 | 25 | 21 | 11 | 16 | 34 | 21 | 1 | 8 | |
Interest Expense Interest ExpenseCr | 2 | 2 | 2 | 4 | 6 | 8 | 16 | 40 | 25 | 12 | 11 |
Depreciation DepreciationCr | 16 | 20 | 23 | 29 | 39 | 49 | 64 | 81 | 96 | 108 | 109 |
PBT PBTCr | 204 | 180 | 220 | 250 | 288 | 294 | 256 | 340 | 414 | 408 | 482 |
| 59 | 45 | 52 | 61 | 86 | 66 | 67 | 83 | 100 | 100 | 117 | |
PAT PATCr | 145 | 135 | 168 | 188 | 202 | 228 | 189 | 258 | 314 | 308 | 365 |
Growth PAT Growth% | -6.6 | 24.4 | 12.0 | 7.2 | 13.2 | -17.2 | 36.3 | 21.8 | -1.7 | 26.4 | |
NPM NPM% | 6.9 | 5.8 | 6.5 | 7.5 | 7.4 | 6.5 | 4.6 | 5.3 | 5.6 | 5.2 | 5.8 |
| 3.4 | 3.2 | 3.9 | 4.4 | 4.7 | 5.3 | 4.4 | 5.9 | 7.2 | 7.0 | 8.3 |
| Financial Year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital Equity CapitalCr | 42 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 44 | 44 |
Reserves ReservesCr | 592 | 707 | 857 | 953 | 1,168 | 1,364 | 1,564 | 1,771 | 2,054 | 2,329 |
| 287 | 405 | 452 | 409 | 593 | 627 | 817 | 1,002 | 1,023 | 1,090 | |
| 13 | 14 | 18 | 47 | 66 | 68 | 483 | 345 | 217 | 251 | |
| 934 | 1,171 | 1,372 | 1,455 | 1,875 | 2,107 | 2,907 | 3,161 | 3,338 | 3,714 | |
| 722 | 916 | 1,086 | 1,060 | 1,401 | 1,530 | 1,505 | 1,637 | 1,752 | 1,965 | |
| 213 | 255 | 286 | 394 | 474 | 576 | 1,402 | 1,524 | 1,586 | 1,749 | |
| 934 | 1,171 | 1,372 | 1,455 | 1,875 | 2,107 | 2,907 | 3,161 | 3,338 | 3,714 |
| Financial Year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital Equity CapitalCr | 42 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 44 | 44 |
Reserves ReservesCr | 592 | 707 | 857 | 953 | 1,168 | 1,364 | 1,564 | 1,771 | 2,054 | 2,329 |
| 287 | 405 | 452 | 409 | 593 | 627 | 817 | 1,002 | 1,023 | 1,090 | |
| 13 | 14 | 18 | 47 | 66 | 68 | 483 | 345 | 217 | 251 | |
| 934 | 1,171 | 1,372 | 1,455 | 1,875 | 2,107 | 2,907 | 3,161 | 3,338 | 3,714 | |
| 722 | 916 | 1,086 | 1,060 | 1,401 | 1,530 | 1,505 | 1,637 | 1,752 | 1,965 | |
| 213 | 255 | 286 | 394 | 474 | 576 | 1,402 | 1,524 | 1,586 | 1,749 | |
| 934 | 1,171 | 1,372 | 1,455 | 1,875 | 2,107 | 2,907 | 3,161 | 3,338 | 3,714 |
| Financial Year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| 130 | 52 | 156 | 141 | 222 | -37 | 424 | 393 | 477 | 459 | |
| -106 | -25 | -51 | -112 | 41 | -121 | -771 | -153 | -97 | -364 | |
| -16 | -37 | -25 | -91 | -6 | -62 | 326 | -232 | -378 | -98 | |
Net Cash Flow Net Cash FlowCr | 8 | -10 | 80 | -62 | 257 | -220 | -21 | 8 | 3 | -3 |
Free Cash Flow Free Cash FlowCr | 88 | 11 | 103 | 57 | 158 | -161 | 323 | 265 | 357 | 279 |
CFO To PAT CFO To PAT% | 89.8 | 38.7 | 93.0 | 75.1 | 110.0 | -16.1 | 224.2 | 152.5 | 152.0 | 148.7 |
CFO To EBITDA CFO To EBITDA% | 62.3 | 27.4 | 69.6 | 54.8 | 71.2 | -10.8 | 132.4 | 92.0 | 92.9 | 87.0 |
| Financial Year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| 130 | 52 | 156 | 141 | 222 | -37 | 424 | 393 | 477 | 459 | |
| -106 | -25 | -51 | -112 | 41 | -121 | -771 | -153 | -97 | -364 | |
| -16 | -37 | -25 | -91 | -6 | -62 | 326 | -232 | -378 | -98 | |
Net Cash Flow Net Cash FlowCr | 8 | -10 | 80 | -62 | 257 | -220 | -21 | 8 | 3 | -3 |
Free Cash Flow Free Cash FlowCr | 88 | 11 | 103 | 57 | 158 | -161 | 323 | 265 | 357 | 279 |
CFO To PAT CFO To PAT% | 89.8 | 38.7 | 93.0 | 75.1 | 110.0 | -16.1 | 224.2 | 152.5 | 152.0 | 148.7 |
CFO To EBITDA CFO To EBITDA% | 62.3 | 27.4 | 69.6 | 54.8 | 71.2 | -10.8 | 132.4 | 92.0 | 92.9 | 87.0 |
| Financial Year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap Market CapitalizationCr | 7,378 | 9,463 | 9,452 | 6,632 | 10,845 | 9,323 | 10,809 | 14,398 | 15,583 | 13,740 | 14,003 |
Price To Earnings Price To Earnings | 51.0 | 70.6 | 56.5 | 35.4 | 54.0 | 40.9 | 57.1 | 55.9 | 49.7 | 44.5 | 38.5 |
Price To Sales Price To Sales | 3.5 | 4.1 | 3.6 | 2.6 | 4.0 | 2.7 | 2.6 | 3.0 | 2.8 | 2.3 | 2.2 |
Price To Book Price To Book | 11.6 | 12.6 | 10.5 | 6.7 | 8.9 | 6.6 | 6.7 | 7.9 | 7.4 | 5.8 | 5.9 |
EV To EBITDA EV To EBITDA | 35.3 | 49.7 | 41.8 | 25.3 | 34.1 | 27.4 | 35.1 | 34.5 | 30.5 | 26.3 | 24.1 |
GPM GPM% | 26.0 | 27.0 | 27.6 | 30.1 | 28.3 | 25.9 | 24.9 | 27.8 | 29.9 | 29.8 | 29.8 |
OPM OPM% | 10.0 | 8.2 | 8.7 | 10.3 | 11.5 | 9.7 | 7.8 | 8.8 | 9.2 | 8.8 | 9.4 |
NPM NPM% | 6.9 | 5.8 | 6.5 | 7.5 | 7.4 | 6.5 | 4.6 | 5.3 | 5.6 | 5.2 | 5.8 |
ROCE ROCE% | 32.3 | 24.1 | 24.2 | 25.2 | 23.0 | 20.5 | 12.9 | 17.1 | 19.6 | 16.6 | 16.6 |
ROE ROE% | 22.8 | 18.0 | 18.7 | 18.9 | 16.7 | 16.2 | 11.8 | 14.2 | 14.9 | 13.0 | 13.0 |
ROA ROA% | 15.5 | 11.5 | 12.3 | 12.9 | 10.8 | 10.8 | 6.5 | 8.2 | 9.4 | 8.3 | 8.3 |
| Financial Year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap Market CapitalizationCr | 7,378 | 9,463 | 9,452 | 6,632 | 10,845 | 9,323 | 10,809 | 14,398 | 15,583 | 13,740 | 14,003 |
Price To Earnings Price To Earnings | 51.0 | 70.6 | 56.5 | 35.4 | 54.0 | 40.9 | 57.1 | 55.9 | 49.7 | 44.5 | 38.5 |
Price To Sales Price To Sales | 3.5 | 4.1 | 3.6 | 2.6 | 4.0 | 2.7 | 2.6 | 3.0 | 2.8 | 2.3 | 2.2 |
Price To Book Price To Book | 11.6 | 12.6 | 10.5 | 6.7 | 8.9 | 6.6 | 6.7 | 7.9 | 7.4 | 5.8 | 5.9 |
EV To EBITDA EV To EBITDA | 35.3 | 49.7 | 41.8 | 25.3 | 34.1 | 27.4 | 35.1 | 34.5 | 30.5 | 26.3 | 24.1 |
GPM GPM% | 26.0 | 27.0 | 27.6 | 30.1 | 28.3 | 25.9 | 24.9 | 27.8 | 29.9 | 29.8 | 29.8 |
OPM OPM% | 10.0 | 8.2 | 8.7 | 10.3 | 11.5 | 9.7 | 7.8 | 8.8 | 9.2 | 8.8 | 9.4 |
NPM NPM% | 6.9 | 5.8 | 6.5 | 7.5 | 7.4 | 6.5 | 4.6 | 5.3 | 5.6 | 5.2 | 5.8 |
ROCE ROCE% | 32.3 | 24.1 | 24.2 | 25.2 | 23.0 | 20.5 | 12.9 | 17.1 | 19.6 | 16.6 | 16.6 |
ROE ROE% | 22.8 | 18.0 | 18.7 | 18.9 | 16.7 | 16.2 | 11.8 | 14.2 | 14.9 | 13.0 | 13.0 |
ROA ROA% | 15.5 | 11.5 | 12.3 | 12.9 | 10.8 | 10.8 | 6.5 | 8.2 | 9.4 | 8.3 | 8.3 |
Documents — V-Guard Industries Ltd
Concall Transcript Summaries — V-Guard Industries Ltd